Residential sales recorded through the MLS system for the Southern Georgian Bay region totalled 351 units in June 2019. This was an increase of 12.1% from June 2018.
On a year-to-date basis, home sales totalled 1,558 units over the first six months of the year, up 6.6% from the same period in 2018.
The Southern Georgian Bay region comprises two distinctive markets.
Home sales in the Western Region, which includes Wasaga Beach, Clearview Township, Collingwood, The Blue Mountains, the Municipality of Meaford, and Grey Highlands, numbered 185 units in June 2019. This was up 5.1% (nine sales) from June 2018.
On a year-to-date basis, home sales in the Western Region numbered 929 units over the first six months of the year, rising 1.2% (11 sales) from the same period in 2018.
Meanwhile, home sales in the Eastern Region, encompassing the Towns of Midland and Penetanguishene, the Townships of Tay and Tiny, Severn, and Georgian Bay Townships, numbered 166 units in June 2019. This was a larger 21.2% increase from June 2018.
On a year-to-date basis, home sales in the Eastern Region numbered 629 units over the first six months of the year, up 15.8% from the same period in 2018.
“Home sales posted one of the best showings in the last couple of years in June,” said Stan Reljic, president of the Southern Georgian Bay Association of Realtors. “In what has become a recurring theme in the more supply-starved parts of Ontario, the increase in sales came alongside a nice bounce in new listings that buyers quickly snapped up. Sales trends in the months ahead will no doubt remain heavily dependent on how many properties become available for sale.”
There were 721 new residential listings in June 2019. This was an increase of 12.7% on a year-over-year basis and marked a four-year high for new supply in June.
Active residential listings numbered 1,450 units at the end of June, an increase of 20.2% from the end of June 2018. That said, aside from 2017 and 2018, inventories at the end of June 2019 were below the same time in all other years going back 25 years.
Months of inventory numbered 4.1 at the end of June 2019, little changed from the 3.9 months recorded at the end of June 2018 and well below the 10-year average of 6.9 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all residential transactions in June 2019 was $180.6 million, jumping 19% from this time in 2018.
Sales of all property types numbered 402 units in June 2019, an increase of 12.9% from June 2018. The total value of all properties sold was $194.9 million, rising 20.1% from June 2018.